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1 Jan 2020
RDP
2020-01
Benjamin Beckers
in risk premia in large business lending rates is met by an 8 basis point cut to the cash rate. ... Table 2: Estimated Policy Rules with Credit Spreads and Expected Cash Rate Changes.
https://www.rba.gov.au/publications/rdp/2020/2020-01/full.html
28 Jan 2020
RDP
2020-01
Benjamin Beckers
Table 2: Estimated Policy Rules with Credit Spreads and Expected Cash Rate Changes. ... I further explored spreads between small and large business lending rates, and the variable mortgage to cash rate spread but found no response of the cash rate to
https://www.rba.gov.au/publications/rdp/2020/2020-01/the-cash-rate-response-to-credit-market-conditions.html
28 Jan 2020
RDP
2020-01
Benjamin Beckers
Figure D1: SVAR Robustness. Cumulative quarterly responses to 100 basis point cash rate shock, 1994:Q1–2018:Q4. ... Cumulative quarterly responses to 100 basis point cash rate shock, 1994:Q1–2018:Q4.
https://www.rba.gov.au/publications/rdp/2020/2020-01/appendix-d.html
28 Jan 2020
RDP
2020-01
Benjamin Beckers
panel) than estimates that use the raw cash rate series (Figure 1, left panel). ... in risk premia in large business lending rates is met by an 8 basis point cut to the cash rate.
https://www.rba.gov.au/publications/rdp/2020/2020-01/introduction.html
28 Jan 2020
RDP
2020-01
Benjamin Beckers
Cumulative quarterly responses to 100 basis point cash rate shock, 1994:Q1–2018:Q4. ... control for the cash rate's systematic response to credit and money market conditions.
https://www.rba.gov.au/publications/rdp/2020/2020-01/the-effects-of-monetary-policy-shocks-on-inflation-unemployment-and-output.html
28 Jan 2020
RDP
2020-01
Benjamin Beckers
Therefore, the Bank raises the cash rate – its policy rate – when credit spreads decline. ... As expected, a higher cash rate reduces inflation and output growth, and raises the unemployment rate.
https://www.rba.gov.au/publications/rdp/2020/2020-01.html
28 Jan 2020
RDP
2020-01
Benjamin Beckers
In response to an increase in the cash rate, inflation has been found to rise. ... An increase in the cash rate lowers inflation and raises the unemployment rate.
https://www.rba.gov.au/publications/rdp/2020/2020-01/conclusion.html
28 Jan 2020
RDP
2020-01
Benjamin Beckers
Variable. Definition. Source. cr. t. Cash rate set at Board meeting in month t. ... Reserve Bank of Australia (RBA). Δ. c. r. t. Cash rate change at Board meeting in month t.
https://www.rba.gov.au/publications/rdp/2020/2020-01/appendix-c.html
1 Jan 2020
RDP
2020-01
Benjamin Beckers
Research Discussion Paper – RDP 2020-01 Credit Spreads, Monetary Policy and the Price Puzzle. Benjamin Beckers. January 2020. 460. KB. The Discussion Paper series is intended to make the results of the current economic research within the Reserve
https://www.rba.gov.au/publications/rdp/2020/2020-01/sections.html
1 Jan 2020
RDP
2020-01
Benjamin Beckers
Likewise, the Bank also adjusts the cash rate to support a maximum level of employment in the future. ... A lower cash rate increases inflation and output growth, and lowers the unemployment rate.
https://www.rba.gov.au/publications/rdp/2020/2020-01/non-technical-summary.html